Can't Reach $5 Tn Economy Without Top Class Engineers: Kant

India cannot achieve $5 trillion economy without producing top class engineers, Niti Aayog CEO Amitabh Kant said on Saturday. Engineers build the country and top-class technology enables us to leapfrog, he said.

Kant was congratulating the 30 recipients of the Ratti Chhatr scholarship, sponsored by Panasonic India.

"Today we are seeing a huge disruption brought about by the young startups. They are not merely doing e-commerce but changing the paradigm in education, health and agriculture sectors. They are using real-time data based on the soil and weather conditions to increase productivity of our farmers. Many startups are using data to improve learning outcomes, using artificial intelligence and machine learning," he said.

"All of you must look at ways on how to use technology to drive India. With the scholarship provided by Panasonic, you must strive to excel. This is about building not just the country's future, but your future too," he said addressing the students selected from 19 IITs.

Kant added that by initiative such as these, the private sector is playing a role in building new India.

"The private sector is playing a key role in building a new India. It demonstrates that the Foreign Direct Investment (FDI) from a Japanese company starts a scholarship called Ratti Chhatr scholarship programme to select 30 most brilliant people building a completely new India. This is a unique programme which has been replicated by all companies that have made FDI in India. So I come here every year as I get to see the faces of the bright young Indians," said Kant.

Aditya Naik, a student of IIT Indore who has been selected for the scholarship said that not just him but his family was delighted that he received the award.

"I come from a financially challenged family and thus the scholarship will help realise my dreams by providing me the necessary financial assistance. As part of the selection process, an online test of 30 minutes was conducted followed by a telephonic interview," he said.

Speaking on the occasion, Manish Sharma, President and CEO, Panasonic India & South Asia, said, "Connecting aspirations with skills, Panasonic India's Ratti Chhatr scholarship program is aimed at providing financial assistance to the young achievers to help them with good education and encourage skill development. We sincerely wish that our efforts can help transform these young students into competent and confident leaders of tomorrow. We congratulate the winners and hope that this small token of appreciation will contribute in realising their ambitions."

Panasonic would be spending nearly 70 lakh on the scholarship for 30 students by providing a financial help of Rs 42,500 per annum every student.